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Universal Technical Institute, Inc. reports developments across workforce education programs in transportation, skilled trades, electrical, energy and healthcare. The company operates through its UTI division and Concorde Career Colleges, with news commonly covering quarterly results, enrollment and growth initiatives, campus expansion plans, and financial outlook updates.
Company announcements also describe employer and supplier partnerships tied to training programs, including Work and Learn arrangements, collision repair and aviation program support, and broader career and technical education themes for skilled-collar and healthcare occupations.
Universal Technical Institute (UTI) has successfully completed its $26 million acquisition of MIAT College of Technology, enhancing its educational offerings and expanding its reach into Texas and Michigan. The acquisition introduces eight new programs and strengthens UTI's growth strategy, aiming for double-digit annual revenue growth. MIAT reported $29 million in revenue and $3.9 million in adjusted EBITDA for the year ending September 30, 2021. UTI expects significant synergies and increased student enrollment through this strategic move.
Universal Technical Institute (NYSE: UTI) announced it will report its fourth quarter and full-year fiscal results for 2021 on November 17, 2021, after market close. CEO Jerome Grant and CFO Troy Anderson will discuss the results and operational performance in a conference call at 4:30 p.m. ET. Investors can listen live or access a replay through the company’s investor relations website. UTI is the leading provider of transportation technician training, with over 225,000 graduates and 12 campuses nationwide.
Universal Technical Institute (NYSE: UTI) has announced that Dr. Steven Coyle, their National Director of Counselor and Academic Relationships, has been appointed to the Texas Industrial Vocational Association's Board of Directors. With over 40 years of educational experience, Dr. Coyle aims to enhance career and technical education in Texas. UTI, with campuses in Houston, Dallas-Fort Worth, and an upcoming location in Austin, partners with industry leaders to provide training in automotive and technical fields, contributing to the workforce's demand for skilled technicians.
Universal Technical Institute (UTI) and IGNITE Worldwide have launched a partnership aimed at increasing the participation of women in skilled trades. The collaboration includes $100,000 in education grants for the 2021/2022 academic year and interactive STEM events at UTI campuses across the U.S. Research indicates that gender-diverse companies are more productive, yet women comprise only 25% of STEM workers. The initiative provides multiple grants, including a $25,000 grant, for eligible female high school seniors attending IGNITE events. The first event takes place on September 24 in Phoenix.
Universal Technical Institute (NYSE: UTI) announced the launch of the BMW FastTrack program, set to begin in January 2022, at its campuses in Avondale, Arizona, and Orlando, Florida, followed by Long Beach, California in May 2022. This program replaces the BMW STEP program and aims to train more students, featuring 12-week intensive sessions on current BMW models. Upon completion, participants can achieve BMW's Associate Level status, qualifying them for entry-level positions at BMW dealerships across the U.S.
Universal Technical Institute and BMW of North America have partnered to launch the BMW MSTEP (Military Service Technician Education Program) at Fort Bragg, N.C.. The 16-week program offers training for service members transitioning to civilian life, focusing on BMW-specific technologies. Graduates will receive employment assistance at authorized U.S. dealers, addressing the ongoing need for skilled technicians in the automotive industry. This initiative expands BMW's commitment to support military personnel and tackle technician shortages.
Universal Technical Institute (UTI) is expanding its Welding Technology Training Program to the NASCAR Technical Institute in Mooresville, N.C., marking the eighth rollout of this program across its campuses. Set to start in January 2022, the 36-week course addresses the high demand for welders in various industries, including automotive and aerospace. UTI anticipates strong enrollment driven by local employer needs, particularly noted by LA West, Inc., seeking skilled welders. The program is developed in collaboration with Lincoln Electric (LECO), a leader in the welding sector.
Universal Technical Institute (NYSE: UTI) will participate in the Canaccord Genuity Growth Conference on August 11, 2021, at 3:00 PM ET. CEO Jerome Grant and CFO Troy Anderson will engage in a fireside chat, followed by one-on-one investor meetings. A live and archived webcast of the discussion will be accessible on the UTI investor relations website for 90 days post-event. Established in 1965, UTI has trained over 225,000 graduates, offering programs in automotive, diesel, and other technical fields across 12 campuses nationwide.
Universal Technical Institute (NYSE: UTI) reported a strong fiscal Q3 2021, with revenue of $83.8 million, up 53.8% year-over-year, and a net income of $3.0 million, recovering from a $13.3 million loss. New student starts rose 38.8%, reflecting strong demand post-pandemic. Adjusted EBITDA improved to $7.2 million. Operating expenses were $80.7 million, up 18.2%. Management remains optimistic, reaffirming fiscal year guidance and highlighting a growing liquidity position of $103.1 million.
Universal Technical Institute (NYSE: UTI) has launched the Toyota Professional Automotive Technician (TPAT) program in Rancho Cucamonga, designed to tackle the shortage of skilled auto technicians in Southern California. The first cohort began a 12-week course focusing on Toyota and Lexus certifications, aiming to meet the high demand for technicians in the region. With over 100,000 technician openings annually, this initiative seeks to prepare students for careers in a booming automotive market. Local employers express eagerness to hire UTI graduates, further solidifying the partnership's potential impact.